Minerals Technologies (NYSE:MTX) Sets New 52-Week Low – Here’s What Happened

Minerals Technologies Inc. (NYSE:MTX)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $63.74 and last traded at $63.76, with a volume of 15012 shares. The stock had previously closed at $64.89.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Truist Financial cut their price target on shares of Minerals Technologies from $103.00 to $101.00 and set a “buy” rating for the company in a report on Monday, February 10th. StockNews.com lowered shares of Minerals Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th.

Minerals Technologies Price Performance

The stock has a 50 day moving average of $71.15 and a two-hundred day moving average of $75.16. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.84. The stock has a market cap of $2.02 billion, a PE ratio of 12.20 and a beta of 1.28.

Minerals Technologies (NYSE:MTX) last released its quarterly earnings results on Thursday, February 6th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. Minerals Technologies had a net margin of 7.89% and a return on equity of 11.49%. Equities analysts anticipate that Minerals Technologies Inc. will post 6.62 EPS for the current year.

Minerals Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 14th were given a $0.11 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.44 annualized dividend and a dividend yield of 0.70%. Minerals Technologies’s dividend payout ratio (DPR) is presently 8.49%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MTX. FMR LLC boosted its position in Minerals Technologies by 42.7% during the 4th quarter. FMR LLC now owns 1,761,925 shares of the basic materials company’s stock worth $134,276,000 after acquiring an additional 527,206 shares during the period. State Street Corp lifted its position in shares of Minerals Technologies by 2.6% in the third quarter. State Street Corp now owns 1,268,792 shares of the basic materials company’s stock worth $97,989,000 after purchasing an additional 32,196 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Minerals Technologies by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 873,123 shares of the basic materials company’s stock worth $66,554,000 after purchasing an additional 7,780 shares during the period. American Century Companies Inc. grew its position in Minerals Technologies by 31.1% during the fourth quarter. American Century Companies Inc. now owns 861,173 shares of the basic materials company’s stock valued at $65,630,000 after purchasing an additional 204,371 shares in the last quarter. Finally, Snyder Capital Management L P increased its stake in Minerals Technologies by 8.5% in the 4th quarter. Snyder Capital Management L P now owns 630,381 shares of the basic materials company’s stock valued at $48,041,000 after buying an additional 49,376 shares during the period. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Minerals Technologies Company Profile

Minerals Technologies Inc develops, produces, and markets various mineral, mineral-based, and related systems and services. The company operates through two segments, Consumer & Specialties, and Engineered Solutions segments. The Consumer & Specialties segment offers household and personal care products, such as pet litter, personal care, fabric care, edible oil and other fluid purification, animal health, and agricultural products; and specialty additives products, including precipitated calcium carbonate and ground calcium carbonate products that are used in the paper, paperboard, and fiber based packaging industries, as well as automotive, construction, and table and food applications.